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Dena Bank, UCO Bank, Allahabad Bank shares slump over 5% on weak earnings

Press Trust of India  |  New Delhi 

Shares of Dena Bank, and tumbled up to 5.4 per cent today following their weak fourth quarter earnings amid bad loans.

The scrip of tanked 5.42 per cent to close at Rs 17.45 on BSE. Intra-day, it tumbled 12.46 per cent to Rs 16.15 -- its 52-week low.

Shares of went down 3.18 per cent to end the day at Rs 44.20. During the day, it tumbled 4.81 per cent to Rs 43.45.

shares lost 2.88 per cent to close at Rs 18.55. Intra-day, it fell by 5.49 per cent to Rs 18.05 -- the lowest level in one year.

Market valuations of fell by Rs 224.96 crore to Rs 3,942.04 crore while that of declined Rs 122.32 crore to Rs 3,730.68 crore. The market capitalisation of dropped Rs 944.93 crore to Rs 3,463.07 crore.

State-owned on Friday reported widening of net loss to Rs 1,225.42 crore in the March quarter on mounting bad loans and higher provisioning to cover them.

In view of mounting non-performing assets (NPAs), the RBI last week directed Dena Bank not to issue any fresh loans and hire new personnel.

On Friday, Allahabad Bank posted a standalone net loss of Rs 3,509.63 crore for the quarter ended March due to more than three-time rise in its provisions for bad loans.

The same day, government-owned UCO Bank had reported a net loss at Rs 2,134.36 crore for the fourth quarter ended March 2018.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 20:00 IST